HR compliance is an aspect that many businesses struggle with, and for good reason.
The U.S. Department of Labor enforces more than 180 federal laws governing employment, which affect 10 million employers and 125 million employees across the nation. Add to that the thousands of employment laws enforced by each of the 50 states, and it’s easy to see how trying to comply with these and other HR labor laws can become downright overwhelming. The graphic at the right shows how quickly federal employment legislation can quickly start to look like a bunch of alphabet soup.
While it can sometimes be tempting to take a “head in the sand” approach to regulatory compliance as a business owner, the cost of being caught out of compliance with employment regulations can be staggering. In fiscal year 2015, employers paid $137,701,703 in back wages for Fair Labor Standards Act (FLSA) overtime violations alone. The chart below outlines some of the penalties employers can face for violating the provisions of a few of the more well-known pieces of federal employment legislation.
John Allen, the President & COO of G&A Partners, recently spoke with Thomas Fox, the creator and writer of the widely followed FCPA Compliance and Ethics Blog about the complexities of regulatory compliance, as well as how G&A Partners helps businesses maintain an outstanding reputation in their marketplaces by ensuring all of their HR policies and procedures are compliant with all applicable federal, state and local laws.
Some discussion highlights from that conversation include:
How maintaining regulatory compliance improves a business’ reputation within their marketplace.
How online employee training and development applications, like G&A Learn, help companies measure the effectiveness of required training programs.
How optimizing the use of people, processes and technology throughout the employee lifecycle can help employers more efficiently manage employees.
How HR policies and procedures can help business executives and owners build an ethical company culture.